Friday, 9 August 2013

Woollim Entertainment on Merge with SM C&C: "Our Music Will Not Change"

After the surprising news that Woollim Entertainment, home to musical groups Infinite, Nell, and Tasty, was merging with SM C&C, a subsidiary of SM Entertainment, to form the label “Woollim Label” the agency is speaking out to the media

Woollim Entertainment on Merge with SM C&C: "Our Music Will Not Change"

After the surprising news that Woollim Entertainment, home to musical groups Infinite, Nell, and Tasty, was merging with SM C&C, a subsidiary of SM Entertainment, to form the label “Woollim Label” the agency is speaking out to the media.

To news agency Sports Korea, a high ranking employee of Woollim stated, “Woollim’s music will not change, and it will continue to pursue new music and challenges and keep its originality because it will be individually managed even after the merge and acquisition.”

SM Entertainment will be in charge of the global distribution of the music and other businesses of artists’ under “Woollim Label,” while SM C&C will be in charge of the label’s functions.

The rep emphasized that it was not a sudden decision but made after careful consideration of the agency’s artists’ futures. “It was decided after a long deliberation and consideration of the artists and employees. We understand the public’s reaction of surprise since the agency has been making a comparable profit as you can see from the successful progression of Infinite’s world tour. But the music market quickly changes so instead of worrying about short-term profits, we decided after discussing things with the artists and thinking about the long-term and security of their careers.”

Click for article: “Woollim Entertainment Merges with SM Entertainment’s SM C&C To Form “Woollim Label”

Source (1)

SM Entertainment Forms 'Woollim Label' - 'We Will Take Our Place As The First Major Global Music Group In Korea'
SM Entertainment, Woollim Entertainment SM Entertainment is well on its way to Asian market domination. On August 9, SM C&C announced a merger with Woollim Entertainment to form Woollim Label, an independent subsidiary of the larger company. The music produced under Woollim Label will differ from the standard SMP (SM Music Performance) genre popular among the company's biggest acts since the era of first-generation idols and will include a variety of eclectic artists and sounds...
Woollim Entertainment Merges with SM Entertainment's SM C&C To Form "Woollim Label"
SM C&C and Woollim Entertainment, the latter home to Infinite, Nell, and Tasty, will be merging to form a new label-”Woollim Label.” SM C&C is a subsidary of SM Entertainment, and by merging with Woollim Ent., will be forming the independent label “Woollim Label.” SM Entertainment will be in charge of the global distribution of the music and other businesses of artists’ under “Woollim Label,” while SM C&C will be in charge of the label’s functions...
SM Entertainment’s SM C&C merges with INFINITE’s agency Woollim Entertainment
Powerhouse agency SM Entertainment announced it plans to expand further into the entertainment industry. The label’s subsidiary company, SM C&C (Culture and Contents) has just merged with agency Woollim Entertainment, home to idol groups INFINITE, Nell and TASTY.It was announced on August 9th that SM C&C has merged with Woollim Entertainment and decided to run an independent label ‘Woolim Label’. This will just another strategic move on SM Entertainment’s part as a steppingstone to its ambitions of becoming Asia’s biggest music group...
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